The poor who were suffering greatly and were deprived off their basic human rights like food, shelter and clothing can now provide for themselves. Before, they were suffering from mal-nutrition and other vitamin deficiencies, the children in Africa were dying of hunger because their families couldn’t make both ends meet.

Of course, these things still happen, but microloans have given many families a better life. They now earn enough to afford three meals a day, cover their bodies with adequate clothing and shelter themselves under a roof.

These loans are issued to people who are in desperate need of money, those who were losing the race to survival. And what’s new, microloans are even given out to women who want to start small at-home industries and play their part in supporting the family.
Everybody can now start a business or make the already existing ones flourish. A farmer may use the money to buy new tools, a fruit vendor might use it to buy a permanent shop. In one way or the other, these loans are helping those in need, world wide.

Micro financing is a relatively new act of providing loans to those in need. Generally for entrepreneurial reasons, these loans are provided to help boost a country’s economy and generate revenue. They help those who are talented and in need of work, those who want to work and earn a living for themselves but do not have the right resources.

The amount of money given is generally less than $200. Many people in South America, Africa (Kenya and South Africa are both good examples), Asia (think Philippines) have better hope for survival today just because of these microloans. They lacked capital and advice to find a way of earning a decent living, but now people have opened up their own small businesses like fruit stalls, barber shops, and other small revenue generating jobs.

This initiative is taken by the governments to uplift the spirit of the poor and give them hope, and it has proven to be a great succes.
Obviously, we highly welcome initiatives like this. Which is why we created this post; as a well meant bravo to the governments of these countries.
Keep it up!